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RINL's Iron Will

Several prognostications over the last fortnight gave dour indications of stifled growth. S&P Global said the economy was “in deep trouble” and expected growth to contract 5% in the current fiscal before rebounding in 2021. Moody's Investor Service further downgraded its growth forecast for India to -3.1% this calendar compared to 0.2% in April, although it expects a marginally stronger rebound at 6.9% in 2021, as opposed to 6.2% in the April update. ADB expects growth to contract 4% this fiscal and warns countries in “Developing Asia” would “barely grow” in 2020.

Analysts say, the reasons could be constraints in containing the virus and lack of consumer demand that are impacting businesses while the struggle continues as India remains a long way from developing herd immunity and an effective remedy is still elusive.

Like other steel players, Rashtriya Ispat Nigam Limited felt the suffocating impact of COVID-19 from mid-March. Exports held out a ray of hope. In our cover story on pg. 39 we zero in on RINL CMD Pradosh Kumar Rath to learn how the steel PSU is looking to unlock opportunities post-lockdown.

We start a new section, Coal360, where, on and off, we turn the spotlight on issues plaguing the fossil fuel. In this issue, on pg. 27, BCCL CMD P.M. Prasad tells us about the company’s contingency plans to combat the impact of the viral outbreak on domestic coking coal. Also, on pg. 12, we take a close look at the PSU’s Moonidih washery’s green operating environment.

World View explores on pg. 06 the scrap demand terrain in Bangladesh and Pakistan.

Plus, we focus on a lot more. Enjoy the read!

Madhumita Mookerji


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*Steel 360 is a monthly magazine for Iron and Steel industry professionals. Each issue comes up with an exclusive Cover Story and insightful articles from the Industry.



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